R.B.I.S.B. (ASSISTANT MANAGER – RAJBHASHA)
PY - 2014
Translate the following passage into Hindi :—
Underdeveloped countries are most susceptible to inflation. Inflation in an underdeveloped economy generally occurs when there is an abnormal increase in the effective demand exerted mainly by the huge government expenditure under the planning process. However, the maintenance of stability in the domestic price level and a fixed, realistic exchange rate are very essential pre-conditions for achieving a maximum rate of sustained economic growth. This needs equilibrium of savings and investment. In an underdeveloped country, however, since the rate of savings is very low, government is usually tempted to raise the level of investment by means of credit expansion and deficit financing. Development efforts of this nature are generally confronted by inflationary price increases. To some economists, inflation is an inevitable price to be paid for economic growth. However, a heated controversy exists as to whether any relationship exists between inflation and economic growth. Nevertheless, it is widely agreed that the policy of development through inflation in underdeveloped countries can be successful and meaningful only if inflation is effectively controlled.
courstey : RBISB